FHJTIMES.COM

Bitcoin Will Be Traded on Wall Street

Bitcoin has become the hottest topic for the past years. Many people believe that this is the future currency and the trigger that will change the business system today. However, even though this new type of currency offers some of great benefits and feature, the road that will lead to the implementation of Bitcoin and maybe, other cryptocurrencies into the current business and transaction system is still unavailable, until the latest news from Wall Street.

It said that Wall Street has been preparing for Bitcoin, so it can be traded in the stock market as one of the exchanged assets. The news came from The New York Times that see and read the email and documents regarding this matter. The information is also supported by the four people that know about the inside of this plan. Those four will be anonymous as the plan to make Bitcoin available or trading wasn’t meant for public release yet.

The news itself also become much clearer after Goldman Sachs made an announcement about Bitcoin. This company has a plan to open new trading unit, which is using Bitcoin. And, this will become the first type ever traded on Wall Street. With this information, it’s almost impossible, if there is no supporting plan behind it, which will provide the platform on Wall Street for Bitcoin trading. Thus, the news from The New York Times becomes even clearer.

With the decision from Goldman and Intercontinental Exchange (ICE), it is shown that there is a big movement toward the non-mainstream direction. The mainstream trading itself is well-known with its high-risk condition, plus it also can be categorized as a speculative investment. On the other hand, the usage of the digital token can solve that problem, and it is believed to be more stable than the mainstream assets.

Bitcoin itself has been around since 2008. In the beginning, this new currency was created, so the customer can do a transaction without involving the traditional financial institution. Moreover, this currency is meant to be a replacement for the current banking structure, and it will create a system that solely bases on community and customer needs.

However, that plan wasn’t realized like what it should be. Instead, the current bank structure takes a part in it and makes it into cryptocurrency. Then, Bitcoin becomes the virtual asset that can only be used as an investment, because the investor believes that it will be increased in value in the future. And, the movement in Wall Street can become the start of that future, which will move the change towards the original plan of the Bitcoin creation.